20 Nov 2008 12:00 AM:
Hi
I have a 30% deposit down on 2 properties in Jumilla. They were supposed to be finished at the end of next month with a further three months build time allowed. The company has now gone into administration and the likelihood of them being built is remote. Apparently the company could be sold off in bits and any new developer doesn't have to honour the contract. We understood there to be a bank guarantee but have been told that it was for 6.5 million which is not sufficient to give the creditors their money back once those at the top of the list had been paid ie banks etc. Can this be the case and are we likely to have lost all our money? In hind site we should have had individual bank guarantees with our name and passport number on. Unfortunately we were naive and left it in the hands of our solicitor. Needless to say we have changed our solicitor and are waiting to find out whether we have a case against the original solicitor for not looking after our interests well enough.
Thread:
Lollypup
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